ASHOKA BUILDCON LTD. - Announcement under Regulation 30 (LODR)-Updates on Acquisition

In continuation to the announcement / letter dated September 22, 2021, Ashoka Buildcon Limited ('the Company') is pleased to inform that the Company's Subsidiary i.e. Ashoka Concessions Limited ('ACL') has acquired 49% stake (1,45,60,442 equity shares of Rs.10/- each fully paid) pursuant to share purchase agreement with Highway Concessions One Private Limited ('HC1') held by HC1 in Ashoka Highways (Durg) Limited ('AHDL / SPV').<BR> <BR> Post-acquisition of 49% stake, Ashoka Concessions Limited, a subsidiary of the Company along with the Company holds 29715183 (99.999%) shares in AHDL except 1 share held by IDFC Limited w.e.f November 30, 2021. <BR> <BR> Please note that AHDL executes the Project awarded by NHAI viz. 'To carry on the business of Construction, Operation and Maintenance End of Durg Bypass - Chattisgarh / Maharashtra Border Section from Km. 322.400 to Km. 405.000 of NH-6 in the state of Chattisgarh under NHDP phase IIIA on BOT basis'.<BR>